Between hidden framing issues, hidden electrical/plumbing issues, code compliance issues (smoke detectors, firewalls, etc), nice-to-haves (landscaping, etc), it's very easy to go 10% over a hard bid from a contractor.In the future, I'd recommend that if you budget is $160K, you try to negotiate a hard bid closer to $130K, and then -- as Rick suggested -- have a secret contingency budget of $30K.

The construction office already fined his dad $2000 for the code violation.

This is a great example of why investors really need to know the tax code!

Well have, as a sponsor and a good friend is a developer.....If you're speaking to Section 42 of the Code tax credits.

There is the issue of rents and financials being manipulated, vacancy not being true or other misleading claims, but we'll skip that side.I don't know Lakewood, but I'd first protect my money by knowing my market, the local regulatory issues and code requirements.If you are going to invest as a slumlord, find out how life is with slumlords in your area.

As I build my business plan for my buy and hold strategy for MF units I wanted to see if there were any websites thaat provided price per unit data by zip code for recent MF salesI found city-data.com which is a tremendous site but not specific enough for multifamily units.

I agree with what both Don & Wayne said - stick to 'we buy houses' angle & call to see what code you're being accused of violating.It also won't hurt to run this by a lawyer/experienced RE in your area to get their thoughts on this

If the title is to be insure in the trustee of the trust(or if their act is to be insured, This company will require a Trust Certification Pursuant to California Probate Code Section 18100.5.

I found a duplex in Miami that I really, really like.There are various code violations on the property.

Best lead sources was bandit signs, Targeting Absentee owners and People who had Code Violations.